Question : A certain sum becomes 7 times in 8 years at Simple Interest, then in how many years will it become 19 times of itself?
Option 1: 15
Option 2: 18
Option 3: 28
Option 4: 24
Answer (1)
21st Jan, 2024
Correct Answer: 24
Solution :
Let the sum be P.
Total amount for 8 years = 7P
Simple Interest for 8 years = 7P – P = 6P
If total amount = 19P,
Simple Interest = 18P
18P interest will be received in 24 years since P interest was received in 8 years.
Hence, the correct answer is 24.
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